Posted August 23rd, 2016.
Morgan Stanley (NYSE:MS) to close at $30.60 by are knocking up 0.16% with session volume was recorded 6.61 Million. Sanford Heisler law firm partner Charles Field appeared on CNBC’s “Closing Bell” to discuss the firm’s court case accusing Morgan Stanley (MS) of causing “hundreds of millions of dollars” in losses to employees as a result of its mismanaged 401(k) plan.
The plaintiff, a participant of the firm’s retirement plan, accuses the bank of investment options that have fees that are too expensive, as well as poor track records, Field stated. The retirement plan was constructed with “poor to mediocre” performers, comprising a number of Morgan Stanley’s own proprietary mutual funds, which were charged less than outside clients, according to the complaint. “A few were abysmal performers,” Field stated of the bank’s own proprietary mutual funds. As concerns of stock price volatility, it was 1.43% for a week and 1.56% for a month.